Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Kumba To Continue Defending South Africa Sishen Iron Ore Right

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/17/2012 | 12:15pm CEST

Kumba Iron Ore Ltd. (KIO.JO), South Africa's largest iron ore producer, said Friday it will continue to defend its ownership rights to the Sishen mine as the country's mineral department appeals a high court decision from last year.

Kumba, a subsidiary of Anglo American PLC (>> Anglo American plc), launched legal action in August, accusing the government of wrongly awarding a lucrative stake in Sishen to politically connected Imperial Crown Trading, or ICT.

The 21.4% stake was previously owned by ArcelorMittal South Africa (ACL.JO), which had lost the right after it failed to convert it under the new mineral laws. Kumba already owned the remaining stake.

In December 2011, a Pretoria high court ruled that Kumba was the owner of 100% of Sishen and therefore the Department of Mineral Resources, or DMR, was wrong in awarding the stake to ICT and therefore that deal was void.

Early this month, both the DMR and ICT submitted applications to appeal against the High Court judgment, Kumba said.

"[Sishen Iron Ore company] will continue to take the necessary steps to protect its shareholders' interests in this regard," Anglo American said in its results Friday.

In the meantime, an interim pricing agreement that Kumba said was invalid after ArcelorMittal lost its Sishen stake has been extended to July 31, 2012, Kumba said. Arbitration between the two over the pricing agreement has also been postponed until the stake legal proceedings are concluded.

-By Devon Maylie, Dow Jones Newswires; +27117837848; devon.maylie@dowjones.com

Stocks mentioned in the article : ARCELORMITTAL, Kumba Iron Ore Ltd, Anglo American plc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANGLO AMERICAN PLC
11:24a ANGLO AMERICAN : Announces Indicative Results Of Note Tender Offers
11:20a ANGLO AMERICAN : Indicative Results of Tender Offers
03/27 Dominion Diamond puts itself up for sale after $1.1 billion approach
03/27 ANGLO AMERICAN : *citigroup cuts anglo american price target to 1,400 (1,450) pe..
03/24 ANGLO AMERICAN : *barclays cuts anglo american price target to 1220 pence - 'equ..
03/23 ANGLO AMERICAN : Diamond group De Beers buys out retail partner LVMH
03/21 DOMINION DIAMOND SHOULD OPEN BOOKS T : top shareholder
03/21 Dominion Diamond should open books to potential suitors - top shareholder
03/21 Dominion Diamond, Stornoway held merger talks - sources
03/21 DOMINION DIAMOND, STORNOWAY HELD MER : sources
More news
Sector news : Integrated Mining
03/27 Dominion Diamond puts itself up for sale after $1.1 billion approach
03/27DJSavannah Reports Maiden Resource Estimate for Ravene Deposit
03/24 BHP BILLITON : Escondida outcome seen as disaster for BHP as workers return
03/23DJTalks Between BHP, Miners Collapse at Escondida, Miner Tables Final Offer
03/21 DOMINION DIAMOND SHOULD OPEN BOOKS T : top shareholder
More sector news : Integrated Mining
News from SeekingAlpha
03/26 FOCUS ON EUROPE : Who Earned A $250M Performance Bonus Last Week?
03/22 Iron ore sinks into bear market; global miners' shares battered
03/22 Vedanta On The Acquisition Trail Again, Agarwal Purchases 13% Of Anglo Americ..
03/16 Metals prices may continue rally in Q2 with zinc top pick, RBC says
03/16 WALL STREET BREAKFAST : Trump Reveals First Federal Budget
Advertisement
Financials ($)
Sales 2017 24 569 M
EBIT 2017 5 570 M
Net income 2017 3 021 M
Debt 2017 5 449 M
Yield 2017 3,21%
P/E ratio 2017 6,94
P/E ratio 2018 8,86
EV / Sales 2017 1,08x
EV / Sales 2018 1,06x
Capitalization 21 041 M
More Financials
Chart ANGLO AMERICAN PLC
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Full-screen chart
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 17,5 $
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
John Parker Non-Executive Chairman
Stephen Thomas Pearce Finance Director
Anthony Martin O'Neill Director & Technical Director
René Médori Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN PLC7.97%21 041
BHP BILLITON PLC-8.38%89 159
BHP BILLITON LIMITED-3.19%89 159
RIO TINTO LIMITED0.35%73 114
RIO TINTO PLC-0.84%73 114
GRUPO MEXICO S.A. DE C..6.61%24 173
More Results